Irvine-based K2 Network Inc., which licenses video games from Asia and makes them available to U.S. players online, has raised $16 million in a second round of funding led by Intel Corp.’s venture capital arm.
The company plans to use the funding to take “some major steps in growth and market share,” said Joshua Hong, chief executive and cofounder of K2 Network.
K2 offers games for free and for subscription where players face off with each other online. The company said it has more than 10 million players, most playing for free.
It offers what are known as “massively multiplayer online games,” something made famous by Irvine’s Blizzard Entertainment, which charges players to access its games online.
Unlike Blizzard, K2 doesn’t develop its own games. Instead, the company pays to bring games from Asia, primarily South Korea, to players in the Americas. Games include “Sword of the New World: Granado Espada” and “Knight Online.”
